Testing, Inspection, and Certification Market for the Natural Resources Industry - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)

Natural Resources Industry Testing, Inspection, & Certification Industry Overview

The Testing, Inspection, and Certification Market for the Natural Resources Industry is growing in competition as the increasing demand for testing, inspection, and certification services attracts new players. The market has the presence of some of the established vendors in the TIC industry, such as Burau Veritas, SGS SA, and Intertek Group Plc, among others. Expansion of service portfolio and expansion to new markets adopting both organic and inorganic approaches are among the key strategic priorities of the vendors operating in the market.

• In August 2022, Aramco, a Saudi Arabian oil company, and SABIC, an agri-nutrients company, obtained an independent certification recognizing 'blue' hydrogen and ammonia production by TÜV Rheinland, a leading independent testing, inspection, and certification (TIC) agency based in Germany.
• In July 2022, SGS unveiled new liquefied petroleum gas testing capabilities at its Dubai laboratory. By offering LPG testing in-house, the company will eliminate reliance on subcontracting, reduce turnaround times, ensuring complete control over testing services. Some of the key capabilities of the new facility will include compositional analysis by GC (ASTM D2163), sulfur content (ASTM D6667), density on composition (ASTM D2598), etc.